Business, international

Banco Popular posts 19% rise in net

Article Abstract:

Second-quarter net profit for Banco Popular Espanol S.A. rose by 19% to reach $448.7 mil, boosted by lending growth that was stronger than anticipated. Total loans increased by 17%, due primarily to growth in personal loans, which rose 28%.

Fourth-quarter net profit for Spain's Banco Popular Espanol S.A. rose 52% to reach $484.1 mil, due in part to lower taxes. The bank reaffirmed targets for 2008 and 2009 despite slower economic growth and the rise of problematic loans.